An Alibaba co-founder alleged on Wednesday that many Americans want to stop China from upgrading its technology and from becoming more innovative. Joe Tsai, who co-founded the tech juggernaut and is an executive vice president there, made that claim at a conference in California in response to a U.S. senator saying earlier at the event […]
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City regulations on Airbnb rentals are 'punitive' to ordinary people, co-founder says
Home-sharing platform Airbnb has been increasingly under fire from city authorities attempting to limit residential rentals through the online marketplace. Arguing in the company’s defense this week, Airbnb co-founder and Chief Technology Officer (CTO) Nathan Blecharczyk told CNBC in Paris that this is largely a result of “misinformation” and hurts ordinary people. Varying local regulations, […]
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Italy's new crisis will be 'too much' for Europe to handle, Latvia's finance minister warns
Italy’s political turmoil could hit the continent harder than the Greek financial crisis and the Brexit vote, according to the finance minister of Latvia. A week of political turbulence in Italy saw dramatic repricing of the country’s assets and has triggered fears of market contagion across the entirety of Europe. Asked during a panel discussion […]
Read moreEuropean stocks are set to open higher Thursday morning, as elevated concerns over Italy’s deepening political crisis showed signs of abating. The FTSE 100 is seen 32 points higher at 7,693; the CAC is expected to open up around 21 points at 5,429 while the DAX is poised to start 52 points higher at 12,797, […]
Read moreInvestors are pouring funds into Chinese artificial intelligence company SenseTime. The image recognition firm said Thursday that it raised $620 million in fresh funds from prominent investors including Fidelity International, Hopu Capital, Silver Lake and Tiger Global. Chipmaker Qualcomm’s venture capital arm also participated in the round. The new funds would be invested into research […]
Read moreSouth Korean prosecutors raided the headquarters of Korean Air Lines over suspected embezzlement and breach of trust by members of its owning family, Yonhap News Agency reported on Thursday. A company spokesman told Reuters an investigative team was at the headquarters but declined further comment. A prosecution spokesman could not be immediately reached for comment. […]
Read moreThe looming meeting between President Donald Trump and North Korean leader Kim Jong Un could alter Asia’s security landscape regardless of whether the politicians reach an agreement or not. At the heart of any potential deal is the definition of denuclearization. Pyongyang has previously said it may only dismantle nuclear weapons if Washington removes its […]
Read moreThe Indonesian rupiah was at its strongest in four weeks after the country’s central bank raised interest rates again on Wednesday — barely two weeks after another such hike. Bank Indonesia, in a widely expected move, increased interest rates by 25 basis points in another attempt to curb the weakness in the rupiah. That followed […]
Read moreChina reported on Thursday that factory activity grew more than expected in May, with the official manufacturing Purchasing Managers’ Index (PMI) coming in at 51.9 — the highest level since October 2017. The Chinese manufacturing PMI was forecast to dip to 51.3 in May from 51.4 in April, according to a poll of economists by […]
Read moreAsian stocks looked set to rebound on Thursday as global markets recovered after recent fears about Italy faded. Futures tipped higher opens for markets in Australia and Japan: Nikkei futures traded in Chicago were up 0.98 percent compared to the index’s Wednesday close and Australian SPI futures were higher by 0.67 percent at the end […]
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